Dogecoin Drops 40% to $0.20 Amid Market Turmoil

Dogecoin (DOGE) experienced a significant drop from approximately $0.34 to $0.20, losing nearly 40% of its value before stabilizing around $0.25. Despite this volatility, crypto analyst Coosh Alemzadeh maintains a bullish long-term outlook for DOGE.

Key Factors Impacting Dogecoin

New tariffs announced by the Trump administration on major trading partners triggered a sell-off across financial markets, including cryptocurrencies.
The crypto market faced a broader downturn, with over $2.2 billion in liquidations reported.
DOGE's price initially broke a descending trendline but retreated back below it following market reactions.
It remains above its 30-week moving average (around $0.20–$0.22), which may indicate underlying strength if maintained.
Fibonacci retracement levels show critical support and resistance points, with notable levels at $0.2667 and $0.3467.
According to Elliott Wave theory, DOGE may be in wave four, with potential for a bullish wave five to target between $1.27 and $2.30 if market sentiment improves.

As of the latest update, DOGE is trading at $0.25.

Dogecoin price analysis